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<p>[QUOTE="braincramp, post: 13074, member: 925"]No, use in indirect exchange is a necessary, but not sufficient, quality of money. The recipient of money must also reasonably expect that he may use the money to acquire a broad range of other items or services or satisfy obligations.</p><p><br /></p><p><br /></p><p><br /></p><p>I hear the desire for a rational and measurable definition of money, but no follow-through in the examples. In addition, we cannot create so rigorous a definition of money - or any other word - that it can be derived from logical processes or subject to empirical testing.</p><p><br /></p><p>Money can be used to buy many things. I can't buy apples or a car or a shoe shine with stock certificates or pay my electric bill or my taxes with empty soda bottles. There are spurious curiosities out there. Not everything which can be converted to money is money; that is not the test. If it were, everthing would be money. A rose is a buck is a rose?[/QUOTE]</p><p><br /></p>
[QUOTE="braincramp, post: 13074, member: 925"]No, use in indirect exchange is a necessary, but not sufficient, quality of money. The recipient of money must also reasonably expect that he may use the money to acquire a broad range of other items or services or satisfy obligations. I hear the desire for a rational and measurable definition of money, but no follow-through in the examples. In addition, we cannot create so rigorous a definition of money - or any other word - that it can be derived from logical processes or subject to empirical testing. Money can be used to buy many things. I can't buy apples or a car or a shoe shine with stock certificates or pay my electric bill or my taxes with empty soda bottles. There are spurious curiosities out there. Not everything which can be converted to money is money; that is not the test. If it were, everthing would be money. A rose is a buck is a rose?[/QUOTE]
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